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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM (Released f o r P u b l i c a t i o n F r i d a y morning, August 20,19^8) PI.il, 1 August 1 9 , I9I18 CONDITION OF THE FEDERAL RESERVE B A M S During the w e e k ended August 1 8 , member bank reserve balances decreased $231,000,000* Reductions in member b a n k reserves resulted f r o m increases of $207,000,000 in Treasury deposits w i t h Federal Keserve Banks, $96,000,000 in nonmember deposits and other Federal Reserve accounts and $13,000,000 in money i n eircu~ lation, offset i n part b y increases of $61,000,000 in Reserve Bank credit and $20,000,000 i n gold stock and a decrease of $2,000,000 in Treasury cash* Excess reserves of menber banks on August 18 were estimated to be approximately $770,000,000. Holdings of loans, discounts and advances increased $8,000,000 while holdings of United States Government securities decreased $15,000,000. The decrease in holdings o f United States Government securities reflects decreases of $170,000,000 in b i l l s , $32,000,000 in certificates and $8,000,000 in notes and a n increase of Sl9lj.,000,000 in b o n d s . Changes in member b a n k reserve balances and related items during the w e e k and the year ended August 1 8 , I9U8, were as follows: Increase or decrease since August 1 8 , August 11, 19^8 August 20, 19^8 19^7 (In millions of dollars) U» S . Government securities L o a n s , discounts and advances Other Reserve Bank credit 21,551 302 272 + + 15 8 68 - 5U6 + - 61 26 Total Reserve Bank credit Gold stock Treasury currency 22,125 23,708 14,565 + + + 61 2o 1 - 511 +2,01*2 + Ik Member bank reserve balances M o n e y in circulation Treasury cash treasury deposits w i t h F # R* Banks Nonmember deposits and other F,R„accounts 17,603 27,979 1,322 1,963 1,531 - 231 + 13 2 + 207 + 96 +1,196 - 260 8 + 698 80 H.lul(a) STATElSNT 05'. CONDITION OF THE TTELVE FEDERAL EBUERVE BASKS COMBINED (In thousands of dollars) Increase or decrease since Aug. 1 8 , Aug. 1 1 , 19U8 i?ko, Aug. 2 0 , 19U7 A S S E T S Gold c e r t i f i c a t e s R e d e m p t i o n fund f o r F , E . n o t e s Total ?old c e r t i f i c a t e reserves Other c a s h Discounts and advances Industrial loans U. 3. Govt, securities: Bills Certificates llotes Bonds T o t a l U . S . Government s~e*curTti"es Total loans and s e c u r i t i e s Due from f o r e i g n b a n k s F . E , n o t e s of o t h e r b a n k s Uncollected items Bank p r e m i s e s Other a s s e t s TOTAL ASSETS 21,827,670 a)? ,1163. 2 2 ; ^ 07133 267.SL2 301,593 688 + 15,999 +^,_001_ + 20*, 000 7,15U,957 5,128,1107 1,857,600 7,1409,756 -170,355 - 32,000 7,500 -7,003,232 -1,721,309 +1,1*38, ?00 +6,690/066 21,550,720 - 15,507 - 51*6,175 21,853,001 - - U8U.892 53 13,519 316,921 608 102,330 + + + 5.769 8,827 53 6,627 +2,077,1*91 61*, 153 +2,013,338 1,516 + 62,389 1,106 U9 126,721; 2,81*7,211 32,i;89 159,607 + 1,115 +37lt,962 3 + 5.61*1 + + + + 17,727,056 +1*00,857 +1,960,255 23,862,61*8 + 16,005 - 17,602,520 1,963,3011 393,783 571,713 20,531,320 2,575,01*8 -231,656 +207,01*6 + 8,391 + 91,727 + 75,508 +306,930 +1,195,11*9 + 698,21|8 99,^26 + 78,121 +1,872,092 + 3U2,6Ul 11,928 U6,98o,"9UU 1,852 +396,591 3,590 +l,9H,96o 199,226 UU8,189 27,5U3 71,15U 1*7,727,056 37 L I A B I L I T I E S Federal Reserve notes Deposits: Leniber b a n k - r e s e r v e a c c o u n t U.S.Treasurer-general account Foreign Other Total deposits Deferred a v a i l a b i l i t y items Other l i a b i l i t i e s i n c l u d i n g accrued dividends TOTAL LIABILITIES C A c I TA L A C C O U N T S Capital paid i n Surplus ( s e c t i o n 7) S u r p l u s ( o e c t i o n 15b) Other c a p i t a l accounts TOTAL LLiBILITIE* *iSD CArlTAL ACCOUNTS R a t i o of ; ; o l d c e i * t i f i c a t e r e s e r v e s t o d e p o s i t and F.K. note l i a b i l i t i e s combined C o n t i n g e n t l i a b i l i t y on b i l l s p u r c h a s e d for foreign correspondents Commitments t o make i n d u s t r i a l l o a n s 50.5$ 1,820 6,190 U.229 +1*00,857 299,183 5,952 8,366 88 33,889 +1,960,255 + + .lfo 51 62 2,212 762 E.li.l(b) STATELEMT OF CONDITION OF THE FEDERAL KEiKEVB BANKS OK AUGUST 18, 1948 f i n thousands of d o l l a r s ) A S S E T S Total 21,327,670 Boston 307,411* 612,465 55,723 22,440.155 267,31*2 361,11*2 27,160 d i s c o u n t s and advances 301,593 I n d u s t r i a l loans 683 U. S. Govt, s e c u r i t i e s : Bills 7,15U,957 18,120 93,378 480,985 5,128,407 544,752 1,857,600 124,875 7,409,756 498,114 Gold c e r t i f i c a t e s Redemption fund f o r F. R. n o t e s Total gold certificate reserves ether cash Certificates ivoxes Bonds Hew York Fhila. Cleve. 7,009,702 H 2 9 , i | 8 2 11*59,803 62,582 58,169 72,885 Rich. A t l a n t a Chicago S t . L o u i s 994,868 1018,2l*7 4312,139 612,1*27 56.6U1* 35.846 luinn. Kans.Cy. 467,800 790,427 D a l l a s SanFran. 532.089 2693,272 95.899 45.556 22,1*10 54,709 7,072,284 1187,651 1532,638 1051,512 1054,093 4408,033 50,427 14.361 23,876 15,973 19,376 39,914 657,965 12,935 490,210 3,166 825,136 10,221 32,li*7 16,990 - - 6,323 lli,307 8,762 333,500 19,026 26,234 u7,82l 558,523 2741,093 10,776 54,159 20,279 376 28,741 258 22,39'2 54 21,128 1,715,628 511,078 685,947 464,673 558,693 1050,479 560,126 219,007 32li,254 650,582 1,229,699 445,419 1,776,727 566.322 1*91,661 553.059 257,105 728,635 132,688 178,088 120,61*0 93,127 263,943 529.279 710,575 481,219 57l,li75 1052,357 283.15U 102,564 4C9,H5 156.976 239,040 232,414 56,859 86,585 84,185 226,805 545.576 555,805 465,5U2 166,627 672,655 T o t a l U . S . Government securities 21,550,720 1448,726 5,167,475 1559,567 2066,069 1599,591 1080,401 5095,944 1154,959 659,647 1004,501 976,656 1957,586 T o t a l loans and securities"~ 21,855,001 1466,846 5,26o,35l 1560,022 2C95,o6s 11*22,037 1099,1*27 3128,091 1171,949 665,970 1018,308 Due from f o r e i g n banks p.R.notes of other banks Uncollected items Bank premises o'ther a s s e t s TOTAL ASSETS 985,418 1973,514 ^9 3 l / 16 4 4 2 2 7 2 1 2 2 4 126,721* 7,477 18,355 9,950 5,548 12,054 10,776 15,529 7,452 12,1*74 7,5lU 4,951 16,9^4 " " " —"" "' ~ ~"" """" *"*~ ' "*" " " ' 2 "' " ^"'", n ~"* "' ,! '"""' ""*"" "* "' ~~"* •""" ~"! "" *~"' """ "^ "''" , '—" ^""~ ""'^ 1*7,727,056 2592,810 12,970,737 2981,381 3955,715 2764,1*24 2585,598 8052,646 1985,555 1261,411 2027,067 1706,01*2 5045,894 l/ After deducting $33,000 participations of other Federal Reserve Banks. H.U.1(°) LIABILITIES F e d e r a l Reserve n o t e s Deposits ; STATEMENT OF GOHDITI^p QF THE iiiDBRnL kEbi^h.Vrj iiai\uu> oi« AUU'OOX 1 8 , 19UO ( I n thousands of d o l l a r s ) New York Phila. Cleve. R i c h . A t l a n t a Chicago Sto-Louis Total Boston 23,862,62*8 12*18,2*29 5,1473,108 163U.518 2109,880 1631,968 1316,803 2*559,585 1082,663 iiemoer b a n k - r e s e r v e a c c t . 17,602,520 U.S.Treasurer-general acct.l,963,30li Foreign 393,783 o t h e r 571,713 Total deposits 20,531,320 Deferred a v a i l a b i l i t y items 2 , 575,02*8 Other l i a b i l i t i e s i n c l u d i n g accrued d i v i d e n d s 11,928 TOTAL LIABILITIES 2*6,980,9242* C a p i t a l paid i n 199,226 Surplus ( S e c t i o n 7) 2*2*8.189 Surplus ( S e c t i o n 13b) 27,52*3 . t h e r c a o i t a l accounts 71,151* 714.0,515 155,14-97 23,li35 3,515 922,962 202,987 836 Discounts and advances I n d u s t r i a l loans U.S.Govt* s e c u r i t i e s 301,593 688 21,550,720 2,972* 25U5,2li4 12,7141,962 69,021 11,323 138,596 28,117 7,319 3,oil 5,12*5 13,839 TOTAL LIABILITIES AKD 2*7,727,056 2592,810 CAPITAL ACCOUNTS Contingent l i a b i l i t y on b i l l s purchased for foreign correspondents 1,820 115 )omnutEients t o sake i n d u s t r i a l s ,nf. „c loans 0,190 75 . R. n o t e s o u t s t a n d i n g 22*, 585,731 12*75,785 C o l l a t e r a l £cv F. R. n o t e s h e l d by F. R. Agents? Gold c e r t i f i c a t e s 13,539,000 2*60,000 E l i g i b l e paper 50,299 3,2*60 U.S.Govt, s e c u r i t i e s 11,925,000 1100,000 Total 5,817.19U 818,558 1302,967 2*35,391 165,366 195,683 l/l2*l,2*33 30,02*3 32*. 123 1405,908 103,811 6,063 6,799,926 1117,778 1538,836 1465,95k 168,2*12* 2 3 6 , 8 9 5 719,102 129,910 18,172* 1,938 869,1214 22li,iV75 716,955 2732,1481 108,099 2ol4,l462 15,207 50,1142 577 2,734 6140,838 2990,119 193,199 399,627 Minn. Kans.Cy. D a l l a s SanFran. 613,175 929,827 609,987 2482,705 616,225 1*25,650 120,771 123,001 13,352 9,273 <?Mi __ 1,573 755,775 559.1*97 118,3114 68,585 813,926 107,151 12,982 8214,1471 207l4,u76 101,2142 116,731 32,708 12,611 5M 3Q.0li6 938,852 2262,961 129,625 232,911* 931*, 652 132*,059 l»26l 623 518 695 552* 1,925 517 558 1,076 52L 2921,1405 3886,872 2726,190 2351,3914 7951,256 1957,270 122* 1» 61*8 1999,055 1679,022 2*979,656 114,621 19^021 2*, 395 6,870 8,522* 7,796 224,711* 6,561 7,729 18,651 35,350 1*2,173 21,210 19,110 66,2?,7 16,972 11*233 16.12*8 12*,ill 38,952 2*,2489 1,006 3,32*9 762 1,1*29 521 1,073 1,137 1,307 2,12*0 5,516 __6 JU 6j 4 l 6.2*95 5,151 Ju326_9.Q3Q ii,2Q9- — 3 * 0 6 2 3*852- - .,3,873 12,970,737 2981,381 3955,713 2762*,2*21* 2383,398 8052,62*6 1985,533 1261,2*11 2027,067 1706,02*2 502*5,89!* 2/ 582 1I47 167 89 66 2*6 62* - ,1*97 1,108 12*9 16 2*78 5,637,692 1683,507 2171,958 1688,723 1362,123 2*633,725 1120,079 629,880 3,750 953,2*51 11 62*3,726 2585,08 200,000 505 2*50,000 280.,000 6,162 700,000 169,000 2 , 0 0 0 , 0 0 0 650 500,000 800,000 1 to 2 years 2 to 5 years Over 5 years 103,82*3 63,057 62.1*13 559 32 17 2*6 2 6 12 12* 1 *6 l,922*»9Ul 1,961,622 3,732,272* 1,552,787 2*80,800 2*,2*88,5l*0 1,162*,156 1/ After d e d u c t i n g $252,212,000 p a r t i c i p a t i o n s of o t h e r F e d e r a l Reserve Banks, 2 / After d e d u c t i n g $ 1 , 2 3 8 , 0 0 0 p a r t i c i p a t i o n s of o t h e r F e d e r a l Reserve Banks. 6,21*5,600 V/ithin 15 days 75 22*7 l*,770,ooo 550,000 735,ooo 625,000 6 7 5 , 0 0 0 2760,000 315,000 18,789 1,2*30 - 10,690 - - 8,613 1*000,000 1200,000 1500,000 1075,000 750,000 1900,000 950,000 HATURITY DISTRIBUTION OF LQA3S AIID SECURITIES 91 days to 6 months 3i to 61 to 16 to 90 days 6 months to 1 year 30 days 60 days 62 72,280 160
@FedFRASER